THE Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted at a potential reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, in the coming days.
According to media reports, this new development, confirmed by Ukadike Chinedu, the National Public Relations Officer of IPMAN, on Saturday, may be attributed to the recent influx of PMS imports by the Nigerian National Petroleum Company (NNPC).
He said: “Once the products start hitting filling stations, fuel prices will reduce because the recent high cost was due to supply drop.”
Media reports suggest that the potential price reduction aligns with the confirmation from the Nigerian Ports Authority (NPA) regarding the arrival of 18 ships carrying fuel and other essential goods at the Lagos port.
